AGM Notice Details

The 43rd Annual General Meeting of Murudeshwar Ceramics Limited will be held on Friday, September 18, 2026 at 3:00 PM at Hotel Naveen, Unkal Lake, Hubballi-Dharwad Highway, Bairidevarkoppa, Hubballi - 580025, Karnataka.

Register of Members/Share Transfer Books will remain closed from Friday, September 11, 2026 to Friday, September 18, 2026 (both days inclusive) for the purpose of the AGM.

Cut-off Date for determining members eligible to vote is Friday, September 4, 2026.

Remote e-voting period commences on September 15, 2026 (9:00 AM IST) and ends on September 17, 2026 (5:00 PM IST) through NSDL.

Financial Performance Overview

For the financial year ended March 31, 2026, Murudeshwar Ceramics Limited reported:

Standalone Financials (₹ in lakhs):

  • Revenue from Operations: 20,547.50 (FY25: 20,286.37)
  • Other Income: 956.37 (FY25: 490.53)
  • Profit Before Tax: 1,369.49 (FY25: 1,194.95)
  • Profit After Tax: 1,147.72 (FY25: 968.73) - up 19.7%
  • EPS: ₹1.90 (FY25: ₹1.60)

Consolidated Financials (₹ in lakhs):

  • Profit After Tax: 1,101.56 (FY25: 960.24)
  • EPS: ₹1.82 (FY25: ₹1.59)

Key Financial Ratios

The company disclosed several important financial ratios:

  • Current Ratio: 1.40 (improved from 1.34 in FY25)
  • Debt Equity Ratio: 0.20 (increased from 0.11 in FY25 due to new borrowings for project expansion)
  • Debt Service Coverage Ratio: 1.27 (decreased from 1.43 in FY25)
  • Net Profit Ratio: 3.82% (decreased from 4.67% in FY25)
  • Return on Capital Employed: 6% (consistent with previous year)
  • Return on Investment: 6.17% (improved from 5.48% in FY25)

Business Items for AGM

Ordinary Business:

1. To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements for FY ended March 31, 2026

2. To reappoint Shri Sunil Rama Shetty (DIN: 00037572) as director who retires by rotation

Special Business:

3. To approve existing and new Material Related Party Transactions with RNS Infrastructure Limited (RNSIL) not exceeding ₹100.00 Crores for FY 2026-27

Capital Expenditure and Liquidity

During FY26, the company incurred capital expenditure of ₹5,614.67 lakhs comprising building construction, plant and machinery, and equipment. The company maintained adequate liquidity with cash and cash equivalents of ₹150.23 lakhs as of March 31, 2026.

Borrowings and Debt

Total borrowings increased to ₹7,472.59 lakhs from ₹3,961.88 lakhs in the previous year, primarily consisting of term loans from banks. Working capital facilities from Canara Bank, Punjab National Bank, and HDFC Bank are secured by hypothecation of current assets and charges on immovable properties.

Contingent Liabilities

The company disclosed contingent liabilities including:

  • GST demands: ₹35.55 lakhs for FY2019-20 and ₹11.04 lakhs for FY2020-21
  • Corporate Guarantee given to RNS Infrastructure Limited: ₹45,000.00 lakhs
  • Letters of Credit: ₹1,220.18 lakhs
  • Other guarantees: ₹213.43 lakhs

Related Party Transactions

Significant transactions with associates were reported:

  • Purchase of goods from associates: ₹815.96 lakhs
  • Sale of goods to associates: ₹120.67 lakhs
  • Rendering of services to RNS Infrastructure Limited: ₹6,585.40 lakhs
  • Commission payments: ₹522.00 lakhs
  • Trade receivables from associates: ₹3,725.92 lakhs

RNSIL holds 21.23% stake in Murudeshwar Ceramics. FY26 transactions with RNSIL included Sales ₹120.67 lakhs, Purchases ₹831.62 lakhs, Commission ₹522.00 lakhs, and Services ₹6,587.45 lakhs.

Corporate Governance and Compliance

The company maintained books of accounts using Odoo 16 software with audit trail features as required by Companies (Accounts) Rules, 2014. No transactions were reported with struck-off companies, and the company has not been declared a wilful defaulter.

Corporate Social Responsibility (CSR)

The company met its CSR obligation of ₹20,53,943 by spending ₹20,53,944 on medical relief through contributions to RNS Trust.

Production Capacity and Operations

The company has three manufacturing units with total production capacity of 28,000 square meters per day (8.4 million square meters per year). Product sizes include various dimensions from 300×300 to 800×1200 mm.

Credit Ratings

Bank loan facilities aggregating ₹117.85 Crore were rated by CRISIL:

  • Long Term Rating: CRISIL BB/Stable
  • Short Term Rating: CRISIL A4+

Board Composition and Management

The Board comprises 8 directors including 2 Executive Directors, 2 Non-Executive Non-Independent Directors, and 4 Independent Directors. Key Managerial Personnel include Shri Satish Rama Shetty as Chairman & Managing Director and Shri Karan Satish Shetty as Whole Time Director.